Lost Cheque

CharlieCai

Two months ago, I banked in a chque at a local Barclays Branch. The money did not arrive though after a week. So I called up telephone banking and complained.

4 weeks later, nothing happened, so I called again and this time, the guy on the other side of the phone credited my account with the money (over 1000 pounds) straightaway after I faxed the receipt.

Now weird thing is, after 3 weeks after I got the money, the money still sit in my friend's bank account and he is asking me when I will bank in the cheque!

Can anybody tell me, what is going on here? Does my friend need to keep the money in his account and wait for the lost cheque come through?

Lokolo

Well if he spends it and then they take it.....

Just tell him you've banked it and theres a problem and they haven't said how long til they fix it.

jambosans

Perhaps Barclays credited your account while they resolved the issue of the lost cheque. It would make sense, you have proof the cheque was cashed, so Barclays have honoured this, however they are still unable to find the original cheque, which means the funds have yet to clear from your friends account.

I would imagine that if your friend cancelled the cheque, and then Barclays found it, put it through clearing, and it bounced, the money would be withdraw from you account. However I'm not quite sure if the 2-4-6 standard would apply in this instance - on the 6th working day after the cheque has been paid in, funds cannot be withdrawn unless due to fraud. If the cheque was lost initially, and the money was deposited by Barclays ex-gratia, then I would have thought that the normal 2-4-6 rule does not apply.

It is a best guess, and no doubt a member of Barclays staff will be along soon enough to explain better and correct me.

Extant

It's a fairly standard procedure that we'll credit you the sum of your cheque in the meantime, and then ask you to contact the drawer for a replacement of the cheque (and we'll pay any stop cheque fee if applicable).

If you haven't heard already from your complaint handler, they'll contact you before long saying pretty much this.